April 18th is not just a day to celebrate for Tax Accountants. Anyone who filed a 2019 tax return on time can also celebrate. But why? Because of the three-year statute of limitations, the IRS can no longer audit your 2019 tax return. Certainly, a reason to pop a little bubbly and toast another tax year free from hassles!
For some other good news, the IRS is so far behind that it is auditing only 4 of every 1,000 taxpayers. In fact, the worst team in football last year, the Houston Texans, undoubtedly has a more realistic chance of winning the 2024 Super Bowl than you have of an audit.
Cheers from your friends at Berman Hopkins CPAs & Associates!